New Listing — Or Is It?? Would-be home Sellers who pulled their listing over the holidays typically wait for two things: 1) for the post-holiday period to pass, usually a few weeks into the New Year; and 2) mild weather (defined as mid-teen’s or higher in Minnesota in January). The last few days qualify, which...Read More
Distinction Without With a Difference: “A,i” vs. “P” Once a “For Sale” home is under contract, Sellers are required to tell prospective Buyers (and their agents) of that fact. Otherwise, Buyers who view the home and write an offer — only to be told it’s already sold — tend to get upset! (and do things...Read More
Buyers Who Hear Footsteps (i.e., Backup Offers) “Offer accepted contingent on 3 weeks of due diligence by builder. Accepting back up offers now. All showings through listing agent.” –Agent Remarks, MLS Normally, “Contingent Upon: Other” on MLS means a property — typically a condo or townhome — is under contract, but that the Buyer is still reviewing...Read More
Sellers who want their homes off the market over the holidays can elect to switch their status to “TNAS,” for “Temporarily Not Available for Showing.” Normally, that serves to put the kibosh on showing requests. However, in the case of my listing overlooking Lake Calhoun, it seems to have had the opposite effect: in the...Read More
Hurry Up & Wait In a traditional sale, Buyers can usually expect to hear a response to their offer within 24 hours — ideally much faster. So, how long do would-be Buyers of Fannie Mae properties have to wait? As long as 10 days. Stale MLS Status Which is why it’s only fair to such...Read More
Gap Between Last Ask, Sold Price One clue that a just-sold home had major inspection issues is when the sales price represents a big discount from the last asking price. So, for example, a house that was listed at $500k, was “Pending” on MLS for six weeks (give or take), then closed for . . ....Read More
